Clearwater Paper Corp (CLW) is Downgraded by DA Davidson to Neutral, Price Target at $65

Clearwater Paper Corp (CLW) was Downgraded by DA Davidson to ” Neutral” and the brokerage firm has set the Price Target at $65. Earlier the firm had a rating of “Buy ” on the company shares. DA Davidson advised their investors in a research report released on May 13, 2016.

On the company’s financial health, Clearwater Paper Corp reported $1.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.95. The company had revenue of $437.20 million for the quarter, compared to analysts expectations of $430.11 million. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

Clearwater Paper Corp opened for trading at $60.49 and hit $61.4 on the upside on Tuesday, eventually ending the session at $61.04, with a gain of 1.73% or 1.04 points. The heightened volatility saw the trading volume jump to 77,115 shares. Company has a market cap of $1,044 M.

In a different news, on Feb 26, 2016, John Hertz (Senior Vice President) purchased 5,180 shares at $38.54 per share price. According to the SEC, on Mar 2, 2015, Johnathan D Hunter (Vice President, Controller) sold 381 shares at $61.92 per share price.

Clearwater Paper Corporation is a producer of private label tissue and bleached paperboard products. The Company is engaged in manufacturing quality consumer tissue away-from-home (AFH) tissue parent roll tissue bleached paperboard and pulp. The Company operates in two segments: Consumer Products segment and Pulp and Paperboard segment. Consumer Products segment manufactures and sells a line of at-home tissue products as well as AFH products. Pulp and Paperboard segment manufactures and markets bleached paperboard for the packaging industry and are a producer of solid bleach sulfate (SBS) paperboard. The Company’s products are primarily wood pulp-based and are manufactured in the United States. The Company supplies private label tissue to retailers and wholesale distributors including grocery drug mass merchants and discount stores. In addition the Company’s bleached paperboard are used by printers and packaging converters.

Clearwater Paper Corp

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